SUMMARY

Since supply-side reforms started
in 2016, remarkable achievements have been made. By 2018-end, 670Mt of backward
capacity will have been eliminated totally, reversing the oversupply in
2012-2015. Coal prices rebounded rapidly and profitability of coal producers
have been improving. After three years' execution, the exit of backward
capacity and release of advanced capacity are playing a key role in promoting
the development of the coal market.

Fenwei Energy is timely releasing "2018 China Coal Capacity Study and 2019-2023 Forecast", to review coal
capacity in China and by province/type, and forecast the changes of supply
capacity in 2019-2023, based on its own coal capacity database. The report
incorporates abundant data, figures and technical parameters, able to provide a
valuable reference for you to master capacity status quo and future development
of China's coal industry.